Bitcoin is imploding — here’s where bitcoin bulls and bears see it headed from here

[Thage]

Turns out unstable, volatile markets are extremely risky and prone to huge swings between growth and imploding. Other headlines: Water wet, fire hot, your favorite musician still a gigantic douchebag.

[Slant]

Turns out unstable, volatile markets are extremely risky and prone to huge swings between growth and imploding. Other headlines: Water wet, fire hot, your favorite musician still a gigantic douchebag.

The sad thing about this, it's not about cryptocurrency as a concept. 99% of the people that are in cryptocurrency are in it for one reason alone: it's a get rich quick scheme. And they try to invent all kinds of idealistic arguments to sell the idea of what is essentially a glorified pyramid scheme. And they get all offended and shit when you point their semi-illicit behaviour to them.

[Machismo]

Since you really seem to be this fucking stupid idea, a short explanation of why people hold bitcoin:

Bitcoin is not held primarily because people think it will appreciate. Only fucking dribbling morons on the internet like you who see adverts for get rich quick schemes on the internet and have never researched the subject think that.

The primary reason to hold bitcoin is as a hedge against national currencies. Because bitcoin cannot be printed artificially it cannot be manipulated by governments by devaluation of whatever form. Consequently the reason to hold it as the same reason to hold gold, as a hedge against the under-performance of a national or global economy, as part of a portfolio.

You do not hold an insurance policy because you think your house burning down is a good bet.

Just pointing this out because this isn't the first time you and the resident village idiot hubcap have made your "bitcoin is bad" posts on the basis of complete and total fucking ignorance that gets extremely tiring to listen to.

I have never held bitcoin because I think the price is going to rise: that said most of those who did in the early days saw returns of over 3000%.

Now, I challenge you to actually respond with a post indicating you understood anything I just wrote. Alternatively you can just eradicate yourself from the gene pool and do humanity a service.

You created a new account just to insult others who say things you don't like? Maybe you should calm down, and be more respectful towards others. After all, you are the new guy here, and you are not making a very good impression.

And yes, it's a glorified pyramid scheme.

[Machismo]

There is no volatility. Everyone who has the savings to invest in bitcoin will also have a home, stocks other investments also associated with good performance in the economy. You need something like gold or bitcoin to compensate when the market tanks.

Umm, there is volatility... perhaps you don't know what the word means.

https://www.investopedia.com/terms/v/volatility.asp

[Slant]

Since you really seem to be this fucking stupid idea, a short explanation of why people hold bitcoin:

Bitcoin is not held primarily because people think it will appreciate. Only fucking dribbling morons on the internet like you who see adverts for get rich quick schemes on the internet and have never researched the subject think that.

The primary reason to hold bitcoin is as a hedge against national currencies. Because bitcoin cannot be printed artificially it cannot be manipulated by governments by devaluation of whatever form. Consequently the reason to hold it as the same reason to hold gold, as a hedge against the under-performance of a national or global economy, as part of a portfolio.

You do not hold an insurance policy because you think your house burning down is a good bet.

Just pointing this out because this isn't the first time you and the resident village idiot hubcap have made your "bitcoin is bad" posts on the basis of complete and total fucking ignorance that gets extremely tiring to listen to.

I have never held bitcoin because I think the price is going to rise: that said most of those who did in the early days saw returns of over 3000%.

Now, I challenge you to actually respond with a post indicating you understood anything I just wrote. Alternatively you can just eradicate yourself from the gene pool and do humanity a service.

Dude, don't act like it's rocket science. It's not. You're into cryptocurrency because you want to make a quick buck. See, all that bullshit you wrote there? I can get that and more off one Google search in about 1 minute. It's not a big secret that we're too stupid to get. We understand why you're in it. Probably better than you are. Hedging against national currency? What the fuck do you think you're paying for stuff every day and month? And you're hedging against currencies that fluctuate in single digit margins over years with a pseudo-currency that drops 80% within a year? Do you even listen to the stuff you say?

Governments aren't manipulating currency without a good reason. Business likes stability. Decisions that are made today come into effect half a year later. It helps if the money that's involved is worth roughly the same. Currency devaluation or interest rate manipulations by the central banks (not controlled by the Government as much as you'd like btw... they are quite independent usually) are meant to stabilise economies and provide fertile grounds for investments. Which they do. Every single day. So what the fuck are you hedging against? Successful economies? Making money?

Gold was rejected as a currency value indicator due to it being volatile as fuck. When Russia needed money and flooded the gold market back in the 90s, it dropped like a metric ton. Simply because one nation decided to... just do their shit. The current system of using the GDP to balance currency is actually more accurate, more representative of the actual value a currency holds and provides much, much more stability. You'd have to actually understand how currencies work and why they exist in the first place. Something a shitty cryptocurrency blogshitpage doesn't explain, because they're busy filling your head with all kinds of crazy conspiracy theories. Otherwise, what's the point??

And then you proceed to do the stupid mistake of coming up with the actual get-rich-scheme argument. Jesus Christ.. have some decency and at least try to make this difficult for me to argue against.

[Shadowferal]

o look...someone that wants to be banned...

Bitcoin...pronounced lottery ticket

[Slant]

There is no volatility. Everyone who has the savings to invest in bitcoin will also have a home, stocks other investments also associated with good performance in the economy. You need something like gold or bitcoin to compensate when the market tanks.

Are you for real? 80% drop in one year? Not volatile? I'd like some of that weed you're smoking, it must be good shit...

[Puupi]

Why are you guys replying to a ban evading burner account?

[Slant]

Why are you guys replying to a ban evading burner account?

The usual, just so lurkers see that there is opposition to idiocy.

Oh, and because we like the challenge. One of these days, I swear... one of these days we'll have one of them actually admit to being wrong. It'll happen, trust me.

[Video Games]

Why are you guys replying to a ban evading burner account?

wow dummy ever heard of the word boredom? Look it up, i'm not spoon feeding you get a job grow up

[aviger]

And yes, it's a glorified pyramid scheme.

It's not shaped like a pyramid, kinda hard to be one then. it's very flat :P

[Slant]

It's not shaped like a pyramid, kinda hard to be one then. it's very flat :P

Okay, I invoke the Flat Pyramid Scheme conspiracy... let's make it happen!

[Slant]

I have no interest in responding to a wall of nonsenical text you constructed to hide your complete ignorance of the subject.

For any one interested in the subject I suggest reading the article "Buying bitcoin as a hedge against inflation and financial crisis" by Kim Snider, which covers the subject in accessible language and gets much of the point of bitcoing across. Bitcoin held in small amounts offsets risk in a portfolio, since generally speaking most portfolios are highly correlated with positive economic performance.

It is not generally a good idea to hold any currency as a standalone investment, nor dump it on the basis of short-term fluctuations.

Hahaha, you're funny. I responded to the major points you made, and you didn't even bother to read it and then proceed to call me ignorant. The irony... omg, it's tasting so fresh!

[Machismo]

Do you understand the word hedge, idiot?

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You, slant and hubcap are revolting human beings with no lives who bore everyone constantly 24/7 with your endless, tedious, superficial dull-witted opinions. You deserve no respect and will receive none.

I get it, you are clearly triggered and upset by all of this. You are heavily into a very volatile product with mostly artificial demand. It makes sense for you to want to lash out, as your gamble looks to be little more than a pyramid scheme.

It's fine, you probably need a hug. Well, here I am, telling you that I think you are a special person who is worthy of love and acceptance.

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It's not shaped like a pyramid, kinda hard to be one then. it's very flat :P

It really is a pyramid, if you take into account that the regressive asymptotic curve of supply means those who were first into the "market" are the ones who are controlling it.

[Themius]

I get it, you are clearly triggered and upset by all of this. You are heavily into a very volatile product with mostly artificial demand. It makes sense for you to want to lash out, as your gamble looks to be little more than a pyramid scheme.

It's fine, you probably need a hug. Well, here I am, telling you that I think you are a special person who is worthy of love and acceptance.

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It really is a pyramid, if you take into account that the regressive asymptotic curve of supply means those who were first into the "market" are the ones who are controlling it.

There is nothing pyramid scheme about this. Bitcoin doesn't function anything akin to a pyramid scheme.

Volatile investment? Yes, but a pyramid scheme? How?

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Man i looked at litecoin and etherium and theyre dead now. Kinda sad.

I sold around 200 something and got them at a very low price (ltc)

[aviger]

It really is a pyramid, if you take into account that the regressive asymptotic curve of supply means those who were first into the "market" are the ones who are controlling it.

I've never been in control of a pyramid scheme which seems still very illegal, i however did get into bitcoin when it was new.
So far my accountant doesn't seem to mind us being in one rofl

[Video Games]

There is nothing pyramid scheme about this. Bitcoin doesn't function anything akin to a pyramid scheme.

Volatile investment? Yes, but a pyramid scheme? How?

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I sold around 200 something and got them at a very low price (ltc)

I made 700 off of them so not too bad.

[Machismo]

There is nothing pyramid scheme about this. Bitcoin doesn't function anything akin to a pyramid scheme.

Volatile investment? Yes, but a pyramid scheme? How?

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I sold around 200 something and got them at a very low price (ltc)

Those who entered first, were given a far larger supply for the amount "worked," and mining now is rather fruitless for most. That means those people who were there at the start, control a large amount of the currency. Everyone else is fighting over table scraps. When it really exploded, that was the daily investors jumping in, and a lot of the "old timers" took the money and ran.

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I've never been in control of a pyramid scheme which seems still very illegal, i however did get into bitcoin when it was new.
So far my accountant doesn't seem to mind us being in one rofl

Oh, the people at the top of the pyramid never really mind being in a pyramid scheme, they are the ones who made the money off of everyone else.

[exochaft]

I was never really into Bitcoin and other similar currencies, but from financial specialists (the very few I do know) I heard that beyond the get-rich-quick people, the only value in such cryptocurrencies investments wasn't the currency itself but the blockchain tech behind it.

[Themius]

Those who entered first, were given a far larger supply for the amount "worked," and mining now is rather fruitless for most. That means those people who were there at the start, control a large amount of the currency. Everyone else is fighting over table scraps. When it really exploded, that was the daily investors jumping in, and a lot of the "old timers" took the money and ran.

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Oh, the people at the top of the pyramid never really mind being in a pyramid scheme, they are the ones who made the money off of everyone else.

Those who were there first... you mean the many who sold and bought and sold and bought many times over or got out entirely when it spiked to like 60 bucks?

That doesn't make it a pyramid scheme there was no scheme to do what you're saying, it just caught on mainstream and not because some secret bitcoin people were trying to pump and dump. The media picked it up and ran which brought in new investors, that's not a pyramid scheme that's quite literally how every stock works.

For instance I'm invested in a small biotech is it a pyramid scheme because I bought shares at one point near 32 cents that are now worth about 10x the price I bought them for? Taking profits when an asset goes up is normal not a scheme.